Fidelity Global Demographics Fund (Managed Fund)
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Fidelity Global Demographics Fund (Managed Fund)

ASX: FDEM

Investment objective

To achieve returns in excess of the MSCI All Country World Index NR over the medium to long term.

A diversified portfolio of typically 50 to 70 companies globally where demographic factors are likely to be the most important driver of companies earnings over the medium-to-long term.

Aims to exploit market inefficiencies by targeting the beneficiaries of demographic trends early, seeking out companies with innovative products and services that will address evolving demographic needs.

We invest at least 70% of the fund in companies exhibiting sustainable characteristics and 30% into companies that are showing improving, or potential for improving characteristics.

Choice of access

Investors can access the Fidelity Global Demographics Fund (Managed Fund) either by purchasing unlisted units directly with us via our traditional managed fund or choose to invest in listed units on exchange via our Active ETF (ASX: FDEM).  

New investors: Find out more on the ways to invest.

Current investors: If you want to change the way you currently transact in the Fund by converting your units contact us.

Key facts

Unlisted
Unit prices (at 09/12/21) Buy 29.7439 / Sell 29.6252 Unit price history
Buy/sell spread 0.20%/0.20%
Active ETF / Listed
Ticker details
  FUND INAV
ISIN AU0000188526  
SEDOL BGDQ7G1  
RIC FDEM.AX FDEMAUiv.P
Bloomberg Code FDEM AU Equity FDEMIV Index
End of day NAV (at 09/12/21) AUD $29.68 Download end of day history
About this fund
Management costs2 0.89% p.a. Fee disclosure document
Fund size (at 09/12/21) A$123.84M
Inception date 30 November 2012
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI All Country World Index NR
About the manager
Portfolio manager Aneta Wynimko, Alex Gold and Oliver Hextall
Appointed to fund 2 February 2015 / 1 May 2019 / 1 May 2019
Location London
Joined Fidelity 2001/ 2008
Unique identifiers
ASX ticker code FDEM
APIR code FID0023AU
ARSN code 160557353

Sustainable characteristics

The Fund adheres to a transparent sustainability framework that leverages Fidelity's proprietary ESG research.

ESG integration

We invest at least 70% of the fund in companies exhibiting sustainable characteristics and 30% into companies that are showing improving, or potential for improving characteristics. We engage with all companies, and we set milestones, timelines, and influence change via a proactive engagement plan, particularly for lower-rated holdings.

Exclusion

The Fund seeks to avoid investing in companies that can cause harm or undermine a more sustainable economy. We use an exclusion policy when making investment decisions which incorporates norms-based screening and negative screening of certain sectors, companies or practices.

The Fund will not invest in companies involved with:

  • Tobacco
  • Controversial weapons
  • Conventional weapons
  • Semi-automatic weapons
  • Thermal coal
  • Violators of UN Global Compact

See the PDS for full details.

Fund performance3

Net returns as at 30 November 2021

Timeframe Fund Benchmark Active return
1 yr % 21.81 23.95 -2.14
3 yr % pa 20.43 17.11 3.32
5 yr % pa 18.60 14.93 3.67
7 yr % pa 15.13 12.93 2.20
Since inception (30/11/12) % pa 18.37 16.05 2.32
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
7 yr
% pa
Since inception
(30/11/12) % pa
Fund 21.81 20.43 18.60 15.13 18.37
Benchmark 23.95 17.11 14.93 12.93 16.05
Active return -2.14 3.32 3.67 2.20 2.32

Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: MSCI All Country World Index NR. NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Global Demographics Fund in November 2012 compared with $10,000 invested in the MSCI All Country World Index NR.

    Fidelity Global Demographics Fund (Managed Fund)
    0
    MSCI All Country World Index NR
    0

    Chart as at: 30 November 2021

    Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: MSCI All Country World Index NR. NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

    Net as at 30 November 2021

    Total return Growth Income
    1 yr % 21.81 18.76 3.05
    3 yr % pa 20.43 16.3 4.13
    5 yr % pa 18.6 13.27 5.33
    7 yr % pa 15.13 9.87 5.26
    Since inception (30/11/12) % pa 18.37 12.65 5.72
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    7 yr
    % pa
    Since inception
    (30/11/12) % pa
    Total return 21.81 20.43 18.6 15.13 18.37
    Growth 18.76 16.3 13.27 9.87 12.65
    Income 3.05 4.13 5.33 5.26 5.72

    Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.

    Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: MSCI All Country World Index NR. NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

    Sectors and holdings

    As at 31 October 2021

    As at 31 October 2021

    % total net assets
    MICROSOFT CORP 5.2%
    AMAZON.COM INC 3.7%
    ALPHABET INC 3.6%
    THERMO FISHER SCIENTIFIC INC 3.2%
    APPLE INC 2.9%
    LVMH MOET HENNESSY SE 2.9%
    TAIWAN SEMICONDUCTOR MFG CO LTD 2.7%
    L'OREAL SA 2.6%
    DANAHER CORP 2.5%
    MORGAN STANLEY 2.4%

    As at 31 October 2021

    Fund % Benchmark % Relative %
    THERMO FISHER SCIENTIFIC INC 3.2 0.4 2.8
    LVMH MOET HENNESSY SE 2.9 0.3 2.6
    L'OREAL SA 2.6 0.2 2.4
    DANAHER CORP 2.5 0.3 2.2
    MORGAN STANLEY 2.4 0.2 2.2

    As at 31 October 2021

    Fund % Benchmark % Relative %
    TESLA INC 0.0 1.3 -1.3
    META PLATFORMS INC 0.0 1.1 -1.1
    NVIDIA CORP 0.0 0.9 -0.9
    JPMORGAN CHASE & CO 0.0 0.7 -0.7
    APPLE INC 2.9 3.6 -0.7

    Distributions and ASX announcements

    Distribution Distribution (CPU) Reinvestment price
    30-Jun-21 68.3217 $26.6035

    CPU = cents per unit. The above cash CPU excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement. If the Distribution CPU column is 0.0000 it means that nothing was distributed. 

    Fund ratings4

    Offering Organisation Rating / Recommendation
    Unlisted Lonsec
    Investment Grade 5
    The Lonsec Report is only available to financial advisers, please contact us for a copy
     

    Morningstar 2020 Australia Fund Manager of the Year6

    From the desk of the Portfolio Managers

    Hear our demographics Portfolio Manager's insights into global markets, companies and the Fund by subscribing to their regular updates.

    Subscribe 

     

    Related insights

    This Fund is subject to the risk of stock market fluctuations. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.

    1An intraday optimised portfolio value (IOPV) for each fund will be published throughout the ASX trading day.  The IOPVs are calculated by ICE Data Indices, LLC based on the latest price of each security, amongst other factors.  In equity constituent market value calculations, the last reported trade price from the composite feed (US) or primary listing exchange (non-US) is used for the latest price of each security, when those exchanges are open.  When those exchanges are closed, the IOPV calculation can incorporate the Real-Time Fair Value Information Service from ICE Data Pricing & Reference Data, LLC which is a multi-factor model that calculates a real-time estimate of the price that would likely prevail in a liquid market for an equity security following the close of the local market.  For more information on Fair Value Information Service methodology, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/fair-value.  

    For IOPVs with fixed income securities, ICE Data Pricing & Reference Data, LLC’s Continuous Evaluated Pricing (CEP) service can be used to price such fixed income securities. As market data becomes available and passes internal system tolerances and parameters, CEP will update throughout the day. While updates to CEP occur more frequently during local market trading hours, CEP will update outside of normal trading hours based on market information that is available at that time. For constituents where CEP is not available, either the prior day’s evaluation or a client-provided price may be used in the IOPV calculation instead. For more information about Continuous Evaluated Pricing, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/cep.

    2Management costs and buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future.

    3Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed. 

    4You should refer to respective research houses (and their disclaimers below) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated.  Ratings are current as at date (s) stated below. Fidelity pays a fee to some research houses for rating our funds.

    5The Lonsec Rating (assigned February 2021) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    6Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.

    Why this fund

    Demographics are a structural, visible, long-term mega-trend.

    A focus on quality and growth companies with strong ESG credentials, that can deliver value over time.

    The co-manager approach ensures deep understanding of stock and industry dynamics and enables PMs to cover investment universe in greater detail.

    Meet the Portfolio Managers

    Demographics are slow moving, highly predictable mega-trends that we can use as a compass for investing in the future.

    Longer lives

    The world is going through a period of population ageing that is without parallel in the history of humanity.  Alex Gold, PM Fidelity Global Demographics strategy discusses why longer lives are providing compelling opportunities in robotics and automation.

    Better lives

    With rising incomes in developing countries, the composition of the global population is creating an expanding middle class. Aneta Wynimko, PM Fidelity Global Demographics strategy explains how better lives is creating exciting opportunities for investors.

    More lives

    With a growing global population, Oliver Hextall, PM Fidelity Global Demographics strategy is finding sustainable opportunities in renewable energy. 

    Invest in future trends

    The fund is positioned to benefit from slow moving, long in duration and highly predictable demographic trends.

    Related insights

    This Fund is subject to the risk of stock market fluctuations. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.

    1An intraday optimised portfolio value (IOPV) for each fund will be published throughout the ASX trading day.  The IOPVs are calculated by ICE Data Indices, LLC based on the latest price of each security, amongst other factors.  In equity constituent market value calculations, the last reported trade price from the composite feed (US) or primary listing exchange (non-US) is used for the latest price of each security, when those exchanges are open.  When those exchanges are closed, the IOPV calculation can incorporate the Real-Time Fair Value Information Service from ICE Data Pricing & Reference Data, LLC which is a multi-factor model that calculates a real-time estimate of the price that would likely prevail in a liquid market for an equity security following the close of the local market.  For more information on Fair Value Information Service methodology, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/fair-value.  

    For IOPVs with fixed income securities, ICE Data Pricing & Reference Data, LLC’s Continuous Evaluated Pricing (CEP) service can be used to price such fixed income securities. As market data becomes available and passes internal system tolerances and parameters, CEP will update throughout the day. While updates to CEP occur more frequently during local market trading hours, CEP will update outside of normal trading hours based on market information that is available at that time. For constituents where CEP is not available, either the prior day’s evaluation or a client-provided price may be used in the IOPV calculation instead. For more information about Continuous Evaluated Pricing, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/cep.

    2Management costs and buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future.

    3Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed. 

    4You should refer to respective research houses (and their disclaimers below) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated.  Ratings are current as at date (s) stated below. Fidelity pays a fee to some research houses for rating our funds.

    5The Lonsec Rating (assigned February 2021) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    6Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.